Performance

Recent News

Pioneer Energy Services Corp. cut its outlook for international drilling utilization, citing unexpected unpaid standby time, and lowered its production services revenue and gross margin guidance ranges because of softer-than-anticipated activity. Shares of the land-based drilling services company for oil and gas production companies were still inactive in premarket trade. The company disclosed that it now expects international drilling utilization of 76% to 80%, down from previous guidance of 85% to 87%. Production services revenue guidance is now expected to decline 5% to 7% versus previous expectations of a 3%-to-5% decline and gross margin as a percentage of revenue is now expected to be 21% to 23% compared with previous expectations of 23% to 25%. The stock has tumbled 35% over the past three months, while the SPDR Energy Select Sector ETF has gained 2.8% and the S&P 500 has advanced 7.1%.

Pioneer Energy Services Corp.

Pioneer Energy Services Corp. engages in the provision of land-based drilling services and production services to oil and gas exploration and production companies. It operates through the Drilling Services and Production Services segments. The Drilling Services segment offers contract land drilling services to exploration production companies through drilling divisions in the U.S. and Colombia. The Production Services segment offers well servicing, wireline, and coiled tubing services. The company was founded in 1968 and is headquartered in San Antonio, TX.
(See Full Profile)

Intraday Data provided by SIX Financial Information and subject to terms of use.
Historical and current end-of-day data provided by SIX Financial Information.
All quotes are in local exchange time.
Real-time last sale data for U.S. stock quotes reflect trades reported through Nasdaq only.
Intraday data delayed at least 15 minutes or per exchange requirements.